India Morning Call-Global Markets

Mon Aug 11, 2014 10:52pm EDT

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EQUITIES

NEW YORK - U.S. stocks ended higher on Monday, extending the rally from Friday as investors hoped that Russia's move to send humanitarian aid to Ukraine would ease tensions between the two countries.

The Dow Jones industrial average rose 16.05 points, or 0.10 percent, to end at 16,569.98, still below its close at the end of 2013. The S&P 500 gained 5.33 points, or 0.28 percent, to finish at 1,936.92. The Nasdaq Composite added 30.43 points, or 0.70 percent, to close at 4,401.33.

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LONDON - British shares snapped a three-day losing streak on Monday after Russia said it would pull troops back from near the Ukrainian border which investors interpreted as a sign of easing tensions between Moscow and Kiev.

The FTSE 100 closed up 65.46 points, or 1 percent, at 6,632.82 points, bouncing from oversold territory after a 3.3 percent fall over the previous two weeks

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TOKYO - Japan's Nikkei share average extended its recovery from two-month low on Tuesday, with buying interest in steelmakers and shipping companies to the fore, as investors put geopolitical concerns on a back burner while still remaining cautious.

The Nikkei rose 0.4 percent to 15,192.13, extending its rebound from a low of 14,753 hit on Friday due to the concerns that conflicts in Ukraine and the Middle East could hamper world growth.

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HONG KONG - Hang Seng Index set to open up 0.1 percent.

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FOREIGN EXCHANGE

SYDNEY - The U.S. dollar started trade in Asia on Tuesday in familiar territory, holding flat after a listless session overnight void of any meaningful economic data or market-moving events.

The dollar index was flat at 81.455 after drifting in a 82 tick-range on Monday, a far cry from Friday's 336 tick-range.

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TREASURIES

NEW YORK - U.S. government debt yields were little changed on Monday, hovering near recent lows as traders clung to their safe-haven bond holdings on anxiety about tensions in the Middle East and Ukraine.

Benchmark 10-year yields were not far from last week's 14-month lows on bets that the possible spread of conflicts in Iraq, eastern Ukraine and the Gaza Strip would hurt the global economy.

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COMMODITIES

GOLD

SINGAPORE - Gold was stuck in a narrow range above $1,300 an ounce on Tuesday after falling a day earlier as equities gained ground, with investors appearing to set aside for now geopolitical worries concerning Ukraine.

Spot gold was steady at $1,308 an ounce by 0022 GMT, and was trading in a $2 range early in Asia. It fell 0.1 percent on Monday. U.S. gold slipped about a $1 to $1,309.70.

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BASE METALS

SYDNEY - London copper skidded to within sight of its lowest since June on Tuesday, as concerns over geopolitical tensions in Iraq and Ukraine clouded the outlook for demand amid thin summer trade.

Copper prices have been hemmed in a range of $6,950-$7,210 per tonne since July, with demand cooling over the northern hemisphere summer and with a squeeze on metal supply beginning to ebb as key smelters in China and South Korea restart after maintenance.

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OIL

NEW YORK - U.S. crude oil edged up on Monday on an expectation of further draws in U.S. crude inventory, while Brent trended down despite a number of geopolitical risks.

U.S. crude increased 43 cents to settle at $98.08 a barrel, while Brent slipped 34 cents to settle at $104.68 a barrel.

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